BION ENVIRONMENTAL TECHNOLOGIES, INC.
2006 CONSOLIDATED INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION AGREEMENT
This OPTION AGREEMENT is made this 7th day of November, 2007 between Bion
Environmental Technologies, Inc., a Colorado corporation ("Company"), 641
Lexington Avenue 17th Floor, New York, New York 10022, and Mark A. Smith
("Optionee") PO Box 566, Crestone CO 81131.
In consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the parties hereto . . .
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